Western Sydney set for double digit growth amid second airport talk

By |
Western Sydney suburbs’ already solid growth is set to get even stronger after the federal government confirmed it will build Sydney’s long-awaited second airport, according to industry players.
 
Prime Minister Tony Abbott said the new airport at Badgerys Creek would not be fully operational for 10 years, but planning would start immediately and construction should start in 2016.
 
He said the initial construction phase would generate around 4,000 jobs, while the airport development itself would create around 35,000 jobs by 2035. This would increase to 60,000 jobs over time.
 
Glenn Byres, from the Property Council of Australia, said the news would accelerate investment in projects on surrounding land. This, in turn, would deliver jobs, growth and prosperity to the region.
 
Raine & Horne CEO Angus Raine said the airport would prove a boon for property values in Western Sydney – as well as nearby towns like Bowral. This was because the surge in jobs would create demand for new and existing housing.

For example, the economy in the neighbouring area of Liverpool was expected be jet-propelled by the development of the Badgerys Creek airport.

Vince Labbozzetta, from Raine & Horne Liverpool, said the economic activity and resulting job creation would provide a boost for the property market.

“Capital growth of between 5 and 10 percent annually will be achievable between now and the beginning of the construction phase.”

The airport generated activity would also underpin the area’s investment market as demand for rental homes was likely to boom, Labbozzetta said.

“We already have low rental vacancy rates in Liverpool. This announcement will squeeze vacancies further and push up rents by up to $50 to $100 a week as more construction workers move to the region.”
 
APM’s Andrew Wilson said the Badgery Creek airport development would activate economy activity in the Western Sydney region and create growth in certain satellite areas.

He said the satellite areas which would prove popular to live in would not be ones adjacent to the airport itself – due to the disincentives of flight paths and noise.
 
“However, regional centres with easy access to an airport tend to attract FIFO workers and this development will also open up that prospect for the West.”
 

Can you afford to buy in this suburb? Find out how much you can borrow

Top Suburbs : keperra , geelong west , west wodonga , kariong , west rockhampton

go back

Get help financing your investment



Do you need help finding the right loan for your investment?


When investing in property, it is important to make sure that you not only have the lowest available rate that you can get, but also have the correct loan features for your needs.

Just fill in a few details below and we'll then arrange for a local expert Aussie Mortgage Broker to contact you and work out what features or types of loans are right for your needs. We'll even help with the paperwork. Plus, our mortgage broking service is at no cost to you.

How soon would you like a mortgage?
What is your Annual Household Income i $
Do you currently own any Investment Properties?
Do you own your own residence?
How much equity do you have in all your current properties?
First Name
Last Name
Where do you live?
What number can we reach you on?
E-mail address
We value your privacy and treat all your information seriously - you can check out our privacy policy here